Indiana’s new Office of Entrepreneurship and Innovation is expected to focus on Main Street businesses—small businesses that are not venture-backed, not easily scaled and found in many towns and cities across the state.
Municipal government leaders across Indiana are going pale in the face while they review budget forecasts for the next few years as a sweeping property tax relief law takes effect.
Also, at Wednesday’s meeting, the IEDC board’s entrepreneurship committee updated the investment policy for the Indiana Angel Network Fund III LLC—the investment fund managed by Elevate Ventures through which the SSBCI money flows.
The Indiana Economic Development Corp. estimates that the data center incentives are worth an estimated $168 million in total tax savings for the combined projects over the next 35 years.
The sweeping move fulfills a pledge Braun made Thursday when he confirmed he planned to dismantle and reconstruct the existing board of the state’s economic development agency.
But with that two-year spending plan set to take effect on July 1, it’s still not clear what the office will do and who will lead it.
The law, passed in 2023, covers public meetings held by state boards and commissions; elected school boards; county commissions; and county, city and town councils.
Business leaders are encouraging state commerce officials to retain the programs that have led to what they say has been a “strong ROI” in the past.
Gov. Mike Braun announced the audit last month, citing potential “impropriety” at the IEDC. He also announced a freeze of all state funds associated with Elevate Ventures.
Representatives from Eli Lilly, Cook Medical and other Hoosier businesses gave advice about tariffs during the Indiana District Export Council’s annual trade and business conference Thursday at Newfields.
Young, R-Indiana, and fellow Sen. Mark Kelly, D-Arizona, reintroduced legislation to jumpstart the country’s “rusted” shipbuilding industry and increase onshore ship production that has largely shifted to China.
The South Korean chip maker’s proposed $3.87 billion manufacturing campus in Indiana is still on track after the West Lafayette City Council approved the request following a 7-hour public meeting.
Cities and their fire departments are feeling the strain as post-pandemic wait times and costs for new fire trucks have shot up—due in part to industry consolidation.
Business owners can expect some tax relief and a new state small business office, but the Indiana Economic Development Corp. will have less money for some of its operations and programs under the next two-year budget.
The bipartisan bill requires the IEDC to be more transparent when it makes large land purchases for major projects like the massive LEAP business park in Boone County.
Indiana lawmakers discovered this legislative session that performing major financial surgery on multibillion-dollar nonprofit hospital systems is a motley and entangled task.
Retailers across the Indianapolis area and across the country are bracing for the full impact of recent Trump administration tariffs, which they see as an immediate threat to their businesses.
The actions stem from growing concerns over how the state conducts economic development activities, how much it spends on those activities and how transparent it is about its business.
The new budget proposal provides more funding for operations and business-promotion support for the Indiana Economic Development Corp., but cuts five funds and programs totaling $35 million.
Gov. Mike Braun told IBJ on Tuesday that his office was finalizing the details of an independent audit of the state’s economic development agency: “Hoosier taxpayers deserve clear accountability for how their dollars are spent.”
